The Nigerian exchange started the week on a bullish note as the all share index rose by N96 billion in value following gains majorly in the shares of CONOIL, FBN Holdings and MTN Nigeria.
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The domestic bourse kicked off the trading week with positive sentiments following buying interests in MTN Nigeria (+2.0%). Thus, the All-Share Index inched higher by 0.3% to 53,086.46 points. Consequently, the Month-to-Date and Year-to-Date returns advanced to +0.2% and +24.3%, respectively.
The total volume traded increased by 167.0% to 755.62 million units, valued at NGN8.90 billion, and exchanged in 4,297 deals. FBNH was the most traded stock by volume and value at 610.41 million units and NGN6.78 billion, respectively.
Performance across sectors was mixed, as the Oil & Gas (+0.7%) and Industrial Goods (+0.1%) indices recorded gains, while the Insurance (-0.4%), Banking (-0.4%), and Consumer Goods (-0.1%) indices declined.
As measured by market breadth, market sentiment was positive (1.6x) as 19 tickers gained relative to 12 losers. CONOIL (+10.0%) and PHARMDEKO (+9.4%) topped the gainers’ list, while ABCTRANS (-6.1%) and UNILEVER (-3.0%) recorded the most significant losses of the day.